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Medium-small Enterprise Financing Problems Research Based On Game Theory

Posted on:2013-04-25Degree:MasterType:Thesis
Country:ChinaCandidate:B ZhangFull Text:PDF
GTID:2249330371470853Subject:Applied Mathematics
Abstract/Summary:PDF Full Text Request
Small and medium-sized enterprises are the most important component in the national and regional economic development. They are also regarded as the backbone of promoting economic development and maintaining social stability. Since the reform and opening up, Chinese SMEs have gotten the rapid development, and play a great role in promoting Chinese economic growth, innovation of science and technology, optimizing the industrial structure. However, SMEs greatly limit their own development because of their own shortcomings as well as the restrict of our country economic system, politics and other factors, the financing problem is the first to bear the brunt. Therefore, research on the small and medium-sized enterprises financing problem has important theoretical and practical significance. In this paper, we use the game theory to analyze the bank and enterprise’s financing problem of small and medium-sized enterprises, and discuss the method aimed at solving the tough problem.At the beginning, we introduce the background and significance of this topic, and also summarize the latest research achievements of enterprise financing. What is more, we have introduced the relevant knowledge about game theory, summed up the basic model of game theory and set up the four basic models of game theory, as well as the signaling game model and its equilibrium, it has pointed out that the information asymmetry is the main reason of financing problem about the SMEs. Finally, there exist some problems such as the adverse selection and moral risk between the bank and small and medium-sized enterprises. In order to mitigate the negative effect of adverse selection and moral risk in a certain extent by establishing credit reputation system.From the above Game Analysis between banks and enterprises, in the view of the existence of asymmetric information, adverse selection and moral risk, we put forward ways and means to improve the financing difficulties of small and medium-sized enterprises; such as:small and medium-sized enterprises strengthen the disclosure of information, establish a good business reputation, perfect credit guarantee system.
Keywords/Search Tags:Small and Medium-sized Enterprise, Financing, Game Theory, Signal Transmission, Asymmetric Information
PDF Full Text Request
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